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U.S. Stocks Mixed as September Heads to Worst Month Since 2020

Stock Markets Sep 30, 2022 10:28AM ET
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By Liz Moyer

Investing.com -- U.S. stocks are mixed Friday as stocks headed for their worst month since the start of the pandemic.

At 10:26 ET (14:26 GMT) the Dow Jones Industrial Average was down 85 points or 0.3%, while the S&P 500 was flat and the NASDAQ Composite was up 0.3%.

September could end up being the worst performance for the Dow since March 2020, and the three indexes are heading for their worst first nine-month performance in 20 years.

Investors have been worrying that the Federal Reserve’s aggressive interest rate hikes will overshoot the mark and tip the economy into a recession. But the Fed is determined to cool inflation, acknowledging that its actions may result in some economic pain.

On Friday, the Fed’s Vice Chair Lael Brainard underscored the need to tame inflation no matter what, saying policy will need to be restrictive for some time. “For these reasons, we are committed to avoiding pulling back prematurely.”

Earlier this month, the Fed raised rates 0.75 points for the third time in a row, pushing the benchmark rate to 3% to 3.25%. Rising rates are cooling off the housing market and changing consumer behavior, as reported by a number of companies including CarMax (NYSE:KMX), which said sentiment and inflation were pressuring sales of used cars.

Athletic apparel maker Nike Inc (NYSE:NKE) said margins would remain under pressure because of markdowns to clear inventory, and its stock fell 11%.

Oil fell. Crude Oil WTI Futures was down 1.5%, to $79.97 a barrel, while Brent Oil Futures crude fell 1.7% to $85.69 a barrel. Gold Futures rose 0.7% to $1679.

U.S. Stocks Mixed as September Heads to Worst Month Since 2020
 

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Comments (13)
Kaushal Shah
Kaushal Shah Sep 30, 2022 12:04PM ET
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inflation data is getting better. now making it obvious pressure which us not realistic. let's c how things shape up now situation is too much panic which is not required. big funds are going to grab & encash thus opportunity
Kerry Ditto
Kerry Ditto Sep 30, 2022 11:18AM ET
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Remember Biden has his decision card on Trump-Era China tariffs before mid-term election day. The decision would push the stock market to the sky.
Bhagwan Dass
Bhagwan Dass Sep 30, 2022 11:01AM ET
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God will punish us oneday
Arun Pai
Arun Pai Sep 30, 2022 10:49AM ET
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President Biden has destroyed American sinking the evonomy to a falsified Recession. Thanks to Americans bears shorting DOW all the good earned hard investor money shifted to Indian markets
Kerry Ditto
Kerry Ditto Sep 30, 2022 10:36AM ET
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President Biden emerges as the best POTUS ever. So, market has to rally.
Kerry Ditto
Kerry Ditto Sep 30, 2022 10:30AM ET
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Unstoppable bull rally has just begun.
lakes Tenn
lakes Tenn Sep 30, 2022 10:24AM ET
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so what this story is saying, is Biden is just as bad as a 100 year pandemic
Bhagwan Dass
Bhagwan Dass Sep 30, 2022 10:18AM ET
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Putin will fall down every thing of us.
Tom Michaels
Tom Michaels Sep 30, 2022 10:18AM ET
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no kidding, what would you expect with manipulation like this. They're coming to get you manipulators.
Kerry Ditto
Kerry Ditto Sep 30, 2022 10:18AM ET
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Looking at ukraine news. At least military actions seem stopped, both sides trying to settle things in peaceful means. So, Europe market is up.
Brad Albright
Brad Albright Sep 30, 2022 10:18AM ET
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You are a geyser of misinformatit.
Cody Hawkins
Cody Hawkins Sep 30, 2022 10:18AM ET
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I dont typically agree with you on much, but you are spot on here. This guy has gotta be trolling.
 
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